Fuel Cell Market is poised to grow substantially till 2026

1. North America Fuel Cell Market is predicted to Grow At A CAGR of 13% by 2026: Global Market Insights, Inc. Fuel Cell Market size worth $25.5bn by 2024

2. Fuel Cell Market Scenario: • North America fuel cell market may record 13% CAGR by 2026. Meanwhile, Global Market Insights, Inc., predicts that the global fuel cell market could surpass annual installation of 400 thousand units by the year 2026. • The global fuel cell market is poised for stellar growth on the back of burgeoning manufacturing of next-generation electric vehicles. Of late, the demand for fuel cells has significantly increased across the transport sector due to their high efficiency, longer operational life, and compact size. • Increasing demand for electric vehicles has encouraged private and public organizations to invest in developing next-generation EVs. Moreover, favorable regulatory initiatives to aid the development of sustainable energy technologies have further created lucrative growth opportunities for industry participants. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

3. Regional Analysis of Fuel Cell Market : • On a regional front, Japan is expected to offer lucrative growth opportunities to companies operating in the fuel cell market. The region has been significantly deploying fuel cell electric vehicles from the past few years. Increasing concern towards offering electric supply across remote areas coupled with favorable government regulatory strategies to rapidly develop hydrogen infrastructure is driving fuel cell demand. • Citing an instance to highlight the same, in 2018, the U.S. Department of Energy (DOE) invested more than USD 39 million to develop fuel cells and hydrogen infrastructure across the North America. Government authorities in the region have also aligned their focus towards clean energy systems. This has led to the development of hydrogen infrastructure, thereby lowering the region’s dependency on conventional fuels, as well as lowering carbon emissions.

4. Application Analysis of Fuel Cell Market : • Based on the product, solid oxide fuel cells (SOFCs) are gaining traction across numerous applications of late. The product is widely used in small as well as large stationary power generation applications. With over 60% efficiency, SOFCs can operate at a very high-temperature ranging from 8000C to 1,0000C. Moreover, the product is used across several transport applications. Offered features like low emissions, high efficiency, low cost, fuel flexibility, and stability could accelerate the demand for solid oxide fuel cells in the forthcoming years. • In addition to the automobile sector, fuel cells are extensively used in radios, printers, portable soldier power units, cameras, skid-mounted generators, vine-trimmers, torches, laptops, and auxiliary power units. The products offer enhanced features like rapid-recharging, reliability, low operating cost, and reduced weight to these equipment. Moreover, manufacturers are involved in product design and development to reduce the cost of fuel cells, which may improve fuel cell business outlook.

5. Competitive Market Share of Fuel Cell Market : • Considering competitive landscape, Fuel Cell Energy, Doosan, Panasonic, Horizon, Arcola, Toshiba, AFC Energy, Plug Power, Bloom Energy, Hydrogenics, and Ballard Power Systems are the key companies currently operating in the global fuel cell industry. • Favorable regulatory policies for electrification of remote and off-grid areas coupled with shifting customer inclination toward clean sustainable energy technologies are expected to support these firms with new business opportunities. Moreover, rapid urbanization and burgeoning industrial activities across developing regions could boost fuel cell market size in the forecast period.

6. Browse Full Market Research Report On Fuel Cell Market@ https://www.gminsights.com/industry-analysis/fuel-cell-market Request for Sample Report Copy https://www.gminsights.com/request-sample/detail/621 Console Market

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